# Canadian dollar

> currency of Canada

**Wikidata**: [Q1104069](https://www.wikidata.org/wiki/Q1104069)  
**Wikipedia**: [English](https://en.wikipedia.org/wiki/Canadian_dollar)  
**Source**: https://4ort.xyz/entity/canadian-dollar

## Summary
The Canadian dollar (CAD) is the official currency of Canada, issued and regulated by the Bank of Canada. It serves as the primary medium of exchange for goods and services within the country and is recognized internationally by its ISO 4217 code "CAD" and symbol "$" or "C$". The Canadian dollar replaced various provincial currencies, such as the New Brunswick dollar and Nova Scotian dollar, following Canada's Confederation in 1867 and subsequent expansions.

## Key Facts
- **Official Currency**: The Canadian dollar is the national currency of Canada, used across its ten provinces and three territories.
- **ISO 4217 Code**: CAD.
- **Symbol**: Represented by "$", "C$", "CA$", or "CAD$".
- **Subdivision**: Divided into 100 cents (symbol: ¢).
- **Central Bank**: Issued and regulated by the Bank of Canada.
- **Material**: Banknotes have been made from polymer since 2011.
- **Replaced Currencies**: The Canadian dollar replaced the Province of Canada dollar (1867), New Brunswick dollar (1867), Nova Scotian dollar (1871), British Columbia dollar (1871), Prince Edward Island dollar (1873), and Newfoundland dollar (1949).
- **Historical Predecessor**: The Canadian pound was used in Canada from 1841 to 1858.
- **International Recognition**: The Canadian dollar is widely traded in global foreign exchange markets.
- **Exchange Rates**: As of 2020, 1 CAD was equivalent to approximately 0.703 USD and 0.685 EUR.
- **Aliases**: Commonly referred to as "Loonie" (due to the loon bird on the $1 coin), "Huard" (French for loon), and other terms like "dollar canadien" or "dólar canadiense" in various languages.
- **Wikidata Description**: Defined as the "currency of Canada."
- **Sitelink Count**: The Canadian dollar has Wikipedia articles in 82 languages.
- **Manufacturer**: Banknotes are produced by the Canadian Bank Note Company.
- **Digital Representation**: Represented in digital systems with the Unicode character for the dollar sign ($) and specific identifiers like `qudt_unit_id: CCY_CAD`.
- **Authority Control IDs**: Includes identifiers such as `library_of_congress_authority_id: sh85038865` and `national_library_of_israel_j9u_id: 987007560331205171`.

## FAQs
**What is the Canadian dollar?**
The Canadian dollar is the official currency of Canada, used for all transactions within the country. It is issued by the Bank of Canada and is subdivided into 100 cents. The currency is represented by the symbol "$" or "C$" and is recognized internationally by its ISO code "CAD."

**How did the Canadian dollar come into existence?**
The Canadian dollar was introduced following the Confederation of Canada in 1867, replacing various provincial currencies such as the New Brunswick dollar and Nova Scotian dollar. Over time, it also replaced the currencies of other provinces and territories as they joined Canada, including the British Columbia dollar in 1871 and the Newfoundland dollar in 1949.

**What materials are used to make Canadian dollar banknotes?**
Since 2011, Canadian dollar banknotes have been made from polymer, a durable and secure material that resists wear and tear. This material also incorporates advanced security features to prevent counterfeiting.

**What is the role of the Bank of Canada in relation to the Canadian dollar?**
The Bank of Canada is the central bank responsible for issuing and regulating the Canadian dollar. It ensures the stability of the currency, manages monetary policy, and oversees the production and distribution of banknotes and coins.

**What are some common nicknames for the Canadian dollar?**
The Canadian dollar is often referred to as the "Loonie," a nickname derived from the loon bird depicted on the one-dollar coin. In French, it is sometimes called the "Huard," which also refers to the loon. Other terms include "CAD," "C$," and "dollar canadien" in various languages.

**How is the Canadian dollar represented in digital systems?**
The Canadian dollar is represented in digital systems using the Unicode dollar sign ($) and specific identifiers such as `qudt_unit_id: CCY_CAD`. It is also recognized in various digital platforms and databases, including financial and economic systems.

**What currencies did the Canadian dollar replace?**
The Canadian dollar replaced several provincial and territorial currencies, including the Province of Canada dollar (1867), New Brunswick dollar (1867), Nova Scotian dollar (1871), British Columbia dollar (1871), Prince Edward Island dollar (1873), and Newfoundland dollar (1949). It also succeeded the Canadian pound, which was used from 1841 to 1858.

## Why It Matters
The Canadian dollar plays a crucial role in Canada's economy and global trade. As the official currency of one of the world's largest economies, it facilitates domestic and international transactions, contributing to economic stability and growth. The Canadian dollar's adoption of polymer banknotes has set a standard for currency security and durability, influencing other nations to consider similar materials. Additionally, the currency's stability and widespread acceptance make it a key player in global financial markets, reflecting Canada's economic strength and reliability.

## Notable For
- **Official Currency of Canada**: The Canadian dollar is the sole legal tender in Canada, used across all provinces and territories.
- **Polymer Banknotes**: Canada was one of the first countries to adopt polymer banknotes, enhancing durability and security.
- **Nickname "Loonie"**: The one-dollar coin features a loon, earning the currency its popular nickname.
- **Replacement of Provincial Currencies**: The Canadian dollar unified various provincial currencies, simplifying trade and economic transactions nationwide.
- **International Recognition**: The Canadian dollar is widely traded and recognized in global financial markets.
- **Advanced Security Features**: The polymer banknotes incorporate cutting-edge security measures to prevent counterfeiting.
- **Digital Representation**: The currency is well-integrated into digital and financial systems, with specific identifiers and representations.
- **Historical Significance**: The Canadian dollar has evolved alongside Canada's political and economic development, reflecting the country's growth and stability.

## Body
### History and Development
The Canadian dollar was introduced in 1867 following the Confederation of Canada, replacing the Province of Canada dollar and other provincial currencies. This unification was part of a broader effort to create a cohesive economic system for the newly formed country. Over the years, the Canadian dollar replaced the currencies of additional provinces and territories as they joined Canada, including the British Columbia dollar in 1871 and the Newfoundland dollar in 1949. The Canadian pound, used from 1841 to 1858, was another predecessor to the Canadian dollar.

### Design and Material
Canadian dollar banknotes are known for their innovative design and materials. Since 2011, the Bank of Canada has issued banknotes made from polymer, a durable and secure material that resists wear and tear. This material also allows for advanced security features, such as transparent windows and holographic elements, which help prevent counterfeiting. The one-dollar coin, introduced in 1987, features a loon, earning the currency its popular nickname, "Loonie."

### Role of the Bank of Canada
The Bank of Canada is the central bank responsible for issuing and regulating the Canadian dollar. It ensures the stability of the currency, manages monetary policy, and oversees the production and distribution of banknotes and coins. The Bank of Canada also plays a crucial role in maintaining the integrity of the currency through advanced security measures and public education initiatives.

### International Recognition and Exchange Rates
The Canadian dollar is widely recognized and traded in global financial markets. As of 2020, the exchange rate for the Canadian dollar was approximately 0.703 USD and 0.685 EUR. The currency's stability and widespread acceptance make it a key player in international trade and finance, reflecting Canada's economic strength and reliability.

### Digital Representation and Authority Control
The Canadian dollar is well-integrated into digital and financial systems. It is represented by the Unicode dollar sign ($) and specific identifiers such as `qudt_unit_id: CCY_CAD`. The currency is also recognized in various authority control systems, including the Library of Congress (`library_of_congress_authority_id: sh85038865`) and the National Library of Israel (`national_library_of_israel_j9u_id: 987007560331205171`).

### Cultural and Linguistic Significance
The Canadian dollar is known by various names and aliases in different languages, reflecting its cultural and linguistic significance. In addition to "Loonie," it is referred to as "Huard" in French, "dollar canadien" in French, and "dólar canadiense" in Spanish. These terms highlight the currency's role in Canada's multicultural society and its global recognition.

### Economic Impact and Stability
The Canadian dollar plays a crucial role in Canada's economy, facilitating domestic and international transactions. Its stability and widespread acceptance contribute to economic growth and financial security. The currency's adoption of polymer banknotes has set a standard for currency security and durability, influencing other nations to consider similar materials for their own currencies.

### Related Currencies and Historical Context
The Canadian dollar replaced several provincial and territorial currencies, including the New Brunswick dollar, Nova Scotian dollar, British Columbia dollar, Prince Edward Island dollar, and Newfoundland dollar. It also succeeded the Canadian pound, which was used from 1841 to 1858. This historical context underscores the currency's role in unifying Canada's economic system and facilitating trade and commerce across the country.

### Global Influence and Trade
The Canadian dollar's stability and widespread acceptance make it a key player in global financial markets. It is widely traded and recognized, reflecting Canada's economic strength and reliability. The currency's role in international trade and finance highlights its importance in the global economy and its contribution to Canada's position as a major economic power.

## References

1. [Source](https://github.com/JohnMarkOckerbloom/ftl/blob/master/data/wikimap)
2. Freebase Data Dumps. 2013
3. [Source](https://www.xe.com/es/currencyconverter/convert/?Amount=1&From=CAD&To=USD)
4. Quora
5. National Library of Israel